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Joel Cogan
Elizabeth Gougeon
Mark Moulson

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BMO Nesbitt Burns
1700 - 201 Portage Avenue
Winnipeg, MB
R3B 3K6
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New Rules and Changes

Manitoba Locked-In Plans

We are pleased to inform you that a number of positive changes have been made to the rules governing all Manitoba Locked-in Registered Retirement Plans (LIRA, LIF, and LRIF).

Manitoba LIRAs, LIFs, and LRIFs are Registered Retirement Savings or Income Funds that are also governed by the locked-in regulations under the Manitoba Pension Benefits Act.

Effective June 1, 2010 the following changes will occur:
  • LIRA clients will be able to unlock and withdraw funds as a lump sum due to non-residency, small balance amounts and shortened life expectancy.


  • LIF clients will be able to unlock and withdraw funds as a lump sum due to non-residency, shortened life expectancy, and small balance amounts. Also, some changes to the administrative requirements for the available 50% unlocking option were made.


  • LRIF will no longer be available for sale as a product and all current owners of Manitoba LRIF's must transfer the assets held in their LRIF Accounts to a Manitoba LIF, Manitoba LIRA, registered pension plan or life annuity contract by December 31, 2010.
This is an important change to your investment account and we encourage you to contact our office to discuss the requirements for this transfew at your earliest convenience.